Acrospire Investment Management LLC Purchases 2,100 Shares of First American Corporation (The) (FAF)

Acrospire Investment Management LLC lifted its position in shares of First American Corporation (The) (NYSE:FAF) by 352.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,696 shares of the insurance provider’s stock after acquiring an additional 2,100 shares during the period. Acrospire Investment Management LLC’s holdings in First American Corporation (The) were worth $120,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in FAF. Creative Planning grew its position in shares of First American Corporation (The) by 5.3% during the second quarter. Creative Planning now owns 2,284 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 114 shares during the last quarter. First Bank & Trust grew its position in shares of First American Corporation (The) by 46.6% during the second quarter. First Bank & Trust now owns 2,622 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 833 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of First American Corporation (The) during the first quarter worth about $169,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First American Corporation (The) by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,808 shares of the insurance provider’s stock worth $170,000 after acquiring an additional 298 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of First American Corporation (The) during the second quarter worth about $201,000. Institutional investors and hedge funds own 83.16% of the company’s stock.

Shares of First American Corporation (NYSE:FAF) opened at 49.41 on Wednesday. First American Corporation has a 12-month low of $35.28 and a 12-month high of $49.69. The firm has a market cap of $5.47 billion, a P/E ratio of 14.98 and a beta of 0.72. The company has a 50-day moving average of $48.48 and a 200 day moving average of $43.81.

First American Corporation (The) (NYSE:FAF) last announced its earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.18. First American Corporation (The) had a return on equity of 12.22% and a net margin of 6.38%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that First American Corporation will post $3.40 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.08%. This is a positive change from First American Corporation (The)’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, September 7th. First American Corporation (The)’s dividend payout ratio (DPR) is presently 46.06%.

In related news, CFO Mark Edward Seaton sold 7,000 shares of First American Corporation (The) stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $48.33, for a total value of $338,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

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FAF has been the subject of several recent research reports. Zacks Investment Research upgraded shares of First American Corporation (The) from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research report on Monday, July 31st. BidaskClub upgraded shares of First American Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th.

About First American Corporation (The)

First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.

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Institutional Ownership by Quarter for First American Corporation (The) (NYSE:FAF)

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